Which lenders for a 4x salary multiple?

MasterP

Hi,

I've just spoken to First Direct, and it looks like their default maximum salarly multiple is 3.5x. Apparently they may lend you more, but their checks are more stringent (I think they'd look favourably on my application, but I'd prefer to apply somewhere that's a likely to approve me).

I was wondering if you know of any lenders where lending a 4x salary multiple is "business as usual"?

Thanks

P

Alisonb1975

Hi

Use the Mortgage calulator on the principality BS website, they offered us quite a large amount just on my husbands wage. Most of the lenders have this facility on their websites. It will give you an itea of what they might offer.

Conrad

Most lenders will go to 4X. Any existing debts as an impact though.

herbiesjp

The size of deposit will impact.

As will the number of children you have.

So if you look on websites, make sure you input all relevant information.

MasterP

Hi everyone,

Thanks for all the info. Here's a bit more information about my circumstances (copied from my other thread):

- I'm in full time permanent employment
- I have a deposit of 35% (I incorrectly said 40% in the other thread)
- I want to borrow with a salary multiple of 4x
- I have no adverse credit history
- I have no dependents
- I have no debts (but do have a credit card)
- I have had mortgages in the past, with no problems

Hopefully all these things will count in my favour! Do the mortgage advisors reading this think that I have a good chance?

P

Squish_21

Nationwide offer more than 3.5 times salary going by their online calulator, dunno what happens in practice though/if it depends on your deposit.

Nationwide gave me and my OH 3.5 times our salaries though.

Conrad

Yes you should get 4 x BASIC salary

TMSL

You should be fine with most high street lenders, infact you would be my dream client ;-)

herbiesjp

Looks straight forward

And you should have the pick of the deals.